Washington Banking Co.

• Public
• US

Dow Jones Description

Washington Banking brings financial services to the top of the Pacific Rim. Founded in 1961 and headquartered in Oak Harbor, WA, Washington Banking Company (NASDAQ-GS: WBCO) is the holding company for Whidbey Island Bank. The bank has about 20 branches in northwest Washington State, in the counties of Island, San Juan Skagit, Snohomish, and Whatcom. It offers checking and savings accounts, money market accounts, CDs, IRAs, and other banking services. Its lending portfolio is comprised of commercial mortgages, consumer loans, construction loans, one- to four-family residential mortgages, and business loans. Its subsidiaries sell investment products. The bank had 2005 revenue of about $53.1 million and has about 300 full-time employees. In August 2006, the Board of Directors declared a five-for-four common stock split. Shareholders received 25 additional shares of common stock for every 100 shares owned, and cash was paid in lieu of fractional shares. This increases the number of outstanding shares from approximately 7.4 million to about 9.3 million.

Number of Employees 258

Contact Information

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